Wealth Enhancement Advisory Services LLC Buys New Stake in Astera Labs, Inc. (NASDAQ:ALAB)

Wealth Enhancement Advisory Services LLC bought a new stake in Astera Labs, Inc. (NASDAQ:ALAB - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 3,588 shares of the company's stock, valued at approximately $475,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Wealthedge Investment Advisors LLC purchased a new stake in shares of Astera Labs during the 4th quarter worth approximately $351,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Astera Labs in the fourth quarter valued at $18,209,000. Ameriflex Group Inc. acquired a new position in Astera Labs in the fourth quarter valued at $144,000. Warm Springs Advisors Inc. purchased a new position in shares of Astera Labs during the fourth quarter worth about $3,311,000. Finally, GF Fund Management CO. LTD. purchased a new position in shares of Astera Labs during the fourth quarter worth about $265,000. Institutional investors and hedge funds own 60.47% of the company's stock.

Insider Transactions at Astera Labs

In other news, COO Sanjay Gajendra sold 88,627 shares of the business's stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $98.11, for a total transaction of $8,695,194.97. Following the sale, the chief operating officer now owns 724,257 shares of the company's stock, valued at $71,056,854.27. The trade was a 10.90% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Michael Truett Tate sold 500,000 shares of Astera Labs stock in a transaction on Friday, May 30th. The stock was sold at an average price of $90.23, for a total value of $45,115,000.00. Following the transaction, the chief financial officer now directly owns 618,996 shares of the company's stock, valued at approximately $55,852,009.08. This represents a 44.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,495,267 shares of company stock valued at $131,012,865 in the last ninety days.

Astera Labs Price Performance

Shares of ALAB stock traded up $5.57 during trading hours on Monday, reaching $95.30. 3,168,556 shares of the company's stock were exchanged, compared to its average volume of 4,113,604. The company's 50 day moving average is $78.89 and its two-hundred day moving average is $92.15. The company has a market cap of $15.72 billion, a P/E ratio of -55.09, a price-to-earnings-growth ratio of 6.18 and a beta of 1.39. Astera Labs, Inc. has a 1 year low of $36.22 and a 1 year high of $147.39.

Astera Labs (NASDAQ:ALAB - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $0.33 earnings per share for the quarter, topping analysts' consensus estimates of $0.28 by $0.05. Astera Labs had a negative return on equity of 10.40% and a negative net margin of 21.05%. The firm had revenue of $159.44 million for the quarter, compared to analyst estimates of $151.55 million. During the same quarter in the prior year, the company posted $0.10 earnings per share. Astera Labs's quarterly revenue was up 144.1% on a year-over-year basis. As a group, analysts predict that Astera Labs, Inc. will post 0.34 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on ALAB shares. Roth Capital set a $100.00 price objective on Astera Labs and gave the company a "buy" rating in a report on Wednesday, May 7th. Barclays increased their price target on shares of Astera Labs from $70.00 to $75.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 7th. Raymond James began coverage on shares of Astera Labs in a research report on Friday, March 14th. They set an "outperform" rating and a $82.00 price objective on the stock. Morgan Stanley raised shares of Astera Labs from an "equal weight" rating to an "overweight" rating and set a $99.00 target price for the company in a report on Monday, May 12th. Finally, Citigroup decreased their target price on shares of Astera Labs from $120.00 to $100.00 and set a "buy" rating for the company in a research note on Monday, April 14th. One investment analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $100.00.

About Astera Labs

Astera Labs, Inc designs, manufactures, and sells semiconductor-based connectivity solutions for cloud and AI infrastructure. Its Intelligent Connectivity Platform is comprised of a portfolio of data, network, and memory connectivity products, which are built on a unifying software-defined architecture that enables customers to deploy and operate high performance cloud and AI infrastructure at scale.